Defibrillators Market Trends

  • Report ID: 4284
  • Published Date: Feb 13, 2023
  • Report Format: PDF, PPT

Defibrillators Market Trends

Growth Drivers

  • Growing Prevalence of Lifestyle Diseases Such as Hypertension and Diabetes - It was observed that, diabetes prevalence was estimated at 9.2% (460 million people) in 2019, and it is expected to increase to 10% (570 million) by 2030. Life style diseases such as hypertension, obesity, dyslipidemia, and diabetes, which are leading causes for cardiovascular disease, are also on the rise in the population. Developing CVDs is strongly correlated with high blood pressure levels. Thus the rising cases of lifestyle diseases are expected to fuel global defibrillator market during the forecast period.
  • Increase in the Geriatric Population Around the Globe - A recent report from the World Bank states that there were be 747,238,580 people over 60 years of age living in the world at the end of 2021. The number is expected to increase in the future.
  • Rise in Medical Expenditures Worldwide - Healthcare expenditures in the United States increased by 9.7% to USD 4.1 trillion in 2020, representing 19.7% of GDP, according to the Centers for Medicare & Medicaid Services. Moreover, U.S. healthcare spending is expected to rise to USD 6.2 trillion by 2028, an increase of 5.4% annually.
  • Affective Training Programs and Awareness Campaigns About Defibrillators - For instance, an automated external defibrillator (AED) training program offered by the American Red Cross allows professionals to learn how and when to use AEDs.
  • Incidence of Spinocerebellar Ataxia (SCA) Around the Globe - It was observed that approximately 3 cases of SCA are reported to occur for every 10 thousand people throughout the world.

Challenges

  • Unawareness of Sudden Cardiac Arrest Among People – The unhealthy lifestyle has prompted the increase of cases of sudden cardiac arrest and heart attacks. However, people are not aware of the sudden cases and tend to avoid the signals. This trend is expected to slow down the utilization of defibrillators in the upcoming years.
  • Issues Associated with the Use of an Automated External Defibrillator
  • Availability of Non-Branded Local Defibrillators

Defibrillators Market: Key Insights

Base Year

2022

Forecast Year

2023-2035

CAGR

~7%

Base Year Market Size (2022)

~ USD 11 Billion

Forecast Year Market Size (2035)

~ USD 20 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of Middle East and Africa)
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Author Credits:  Radhika Pawar


  • Report ID: 4284
  • Published Date: Feb 13, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

Rising incidence of cardiovascular disease worldwide along with rise in medical expenditures are the major factors driving the growth of the defibrillators market.

The market is anticipated to attain a CAGR of ~7% over the forecast period, i.e., 2023-2035.

Issues associated with the use of an automated external defibrillator along with availability of non-branded defibrillator are the challenges affecting the market growth.

The market in North America is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.

The major players in the market are Asahi Kasei Corporation, Stryker Corporation, Biotronik SE & Co. KG, Boston Scientific Corporation, ZOLL Medical Corporation, LivaNova PLC, Medtronic plc, Cardiac Science Corporation, Nihon Kohden Corporation, and Abbott.

The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.

The market is segmented by product type, end user, and by region.

The hospitals segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.
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